AI
An AI Crypto Opportunity~OptimusAI Optimus AI - LSE:OPTI
- DSS Bressert high cross suggests potential decline
before a move higher
- Could be 11-15 days of downward/sideways price
action as per pattern on chart
- An ideal new entry for me would be between 0.117
and 0.113 with…the a higher low established @
0.095 being a stop loss point
- This offers a nice Risk/Reward Ratio of 14 (160%+
potential profit vs – 12% loss).
This AI token was recently brought to my attention by the great jonbking from one of his brilliant ChartWizardsNFT weekly reports which I highly recommend.
The chart is just my angle of play for this one, and it might not play out like that at all, I'm intrigued though to see what happens over the coming 2 to 4 weeks
PUKA
Analyzing Nasdaq-100 $NAS100 for Potential Double Top ReversalThe NAsdaq-100 (NAs100) index is currently displaying a classic double top formation on the weekly timeframe, signaling a potential bearish reversal following a robust 7-month rally. This surge was primarily propelled by a select group of companies utilizing AI technology.
A Double Top pattern, characterized by two almost equal peaks, serves as a bearish reversal indicator. It suggests a potential shift from an uptrend to a downtrend, signifying a slowdown in buying pressure and an emerging influence of sellers in the market.
To confirm a downtrend, keen observation of the critical support level at 14,500 is vital. A breach below this level would not only cross the intersecting trendline but could potentially prompt a 5% decline in the index in the short term. Such a move could mark the beginning of a bearish market sentiment.
An intriguing correlation exists with NVIDIA's chart, which shares similarities with this pattern. Thus, it's imperative to closely monitor this tech giant's performance, given its significant influence on the broader tech sector and, consequently, the entire market.
This information should be viewed as guidance and not definitive instructions. Thorough research and consultation with a financial advisor are essential before making any investment decisions.
SP500 - Consolidation before ATHI think that SP500 wont go much lower than where it is right now (Yellow mark), A consolidation for a month or two is more likely before testing ATH. In worst case scenario we could go down to the purple marked area, that is also where the 50% level sits from ATH to the bottom of 2022. A Break below that level would be devastating for the markets which would mean lower for longer.
I see many are calling for a new low of this "bearmarket" which is not my opinion at all, I think we are in a bullmarket since the bottom 2022 and that the recession everyone talks about already happened. I see no reason for us to not break ATH within 6-12 months from here.
A giant H & S for PalantirNYSE:PLTR has been one of the starts of the AI mania in the last months. The price formed a giant head & shoulders for a reversal. If NASDAQ:NDX looses the support from here, we may see a strong sell rally.
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
AI Holding the 1D MA200. Most optimal buy entry.C3.AI (AI) has been trading within a Channel Up pattern since the December 28 2022 market bottom. The previous Higher Low was priced while it was testing (and holding) the 1D MA200 (orange trend-line). This is the exact situation we have now, with the stoch trading at the bottom (Higher Lows trend-line) of the pattern, holding the 1D MA200 as Support. At the same time, the 4H RSI is showcasing a Bullish Divergence, being on Higher Lows while the price is on Lower Lows.
As a result, this is the most optimal buy entry, and as long as the price trades within the Channel Up, we will target $72.00 (+180% rise).
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ADBE: Bearish 5-0 Bearish Entry Anticipating PPO ConfirmationBack in December 2021, ADBE gave us a Bearish ABCD entry that led us into a Shark BAMM Pattern. Once it made it to the BAMM target, it bounced back up to where it is now. The interesting thing is that the PPO is looking like it's ready to roll over, and it happens to be at what would be a Potential Bearish 5-0 entry. If the PPO crosses below the upper extremes, we could see this go for a lower low, and if we are to judge how far it can go harmonically, I'd say it could go all the way to the 1.414, which would be the PCZ of a Potential Bullish ABCD.
For additional context, I have left the Bearish Entry setup from 2021 in the Related Ideas Section below.
FET IT'S TIME FOR DCA?BINANCE:FETUSDT IT'S TIME FOR DCA?
Seen from the chart pattern fet follows the trendline that follows the line area for COINBASE:FETUSD
buy at 0.2271 area and sell at 0.2690 area, GL
Ocean Protocol: Strong compression that could become explosive!Ocean Protocol (OCEAN) seems to be in a very strong compression and could therefore soon blow up! Despite a small fake out from the top, the other breakouts are just wicks that are very well recovered, as can be seen on the last two low wicks. A breakout from above could at the very least take us towards $0.42, and a breakout from below could see the asset fall towards $0.23-$0.24. We favour an upward movement, but proceed with caution!
C3.AI - A Highly Volatile Fade With A Big RewardWhether you like it or not, the AI pump, even though it lasted for four months, has come to an end, because "artificial" has never been much of a compliment in the first place.
Consider this:
Artificial butter is called "margarine" and if you use it in pastries in France you'll go to prison
Artificial milk is called "soy drink" and if you drink it then you'll get hormonal problems.
An artificial bed is called a "couch" and you only sleep on it when you did something stupid and hurt your wife's feelings or have become poor.
Regardless, C3.AI, just like Docusign, shows curious signs that it should rally and be a big bagger in the future, but the timing for it to do the go train doesn't make sense at present.
I outline Docusign here:
Docusign - In Theory, A Long-term Technical Multibagger
for C3.AI, the evidence is made the most clear on the monthly bars, which is the big gear that dominates all the smaller time frames anyways.
The point is this:
1. All price action in the four month pump was simply retracing a mid-2021 gap down liquidity void, as evidenced by the bodies of the candles and the move away from the level.
2. The big "omg ChatGPT" pump candle from May, which formed an outside reversal bar, has had the 50% level traded through on two monthly bars
3. The May low of $16.79 is still higher (and meaningfully so on a % basis) than the $13.37 level, which amounted to little more than a stop raid during the 2022 lows
4. These numbers and ranges are enormous in magnitude, but C3 is a very, very volatile stock and only worth $3.16 billion at current levels
5. The same idea for an upside gap play exists at $90, and a strong Q4 rally is extremely possible.
So, let's say that the market makers are willing to take price on a 300%+ moon mission. Let me ask you a question, is it very likely that this will happen before, or after, some sort of manipulation to the downside that shakes out weak hands?
The answer is obvious, and so the target is circa $15 in the remaining portion of September and/or October.
The problem with going long the bottoms on the pump thesis is that the situation in Mainland China with the Spectre of Communism controlling the "Chinese" Communist Party is that the CCP is about to fall.
The Yuan is in rough shape, property developers and commercial real estate are about to explode like they ate a crit from the rocket launcher in Quake 4, and cities are starting to appear empty as a result of Mainland China, the world's motherland, being made empty as a result of the Wuhan Pneumonia epidemic.
And to think that all these problems are nothing more than a prelude to the real elephant in the room: the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million practitioners launched by the CCP and former Chairman Jiang Zemin on July 20, 1999.
The CCP, Xi, the remnants of the Jiang Faction, and the "International Rules Based Order" that smeared its hands participating in the persecution to court Shanghai and Tsinghua Marxist-Leninist vows for material benefits, can absolutely not escape the consequences of these crimes against humanity.
Humans won't hold people responsible, but Heaven will. There will never be a Nuremburg 2.0, and there won't be a "Great Judgment," but there certainly will be a historic retribution for evil that will be passed down forever.
And this makes long into January of 2024 as the market rallies extremely dangerous.
I can only ask you to consider hedging with volatility when you see the VIX at a 9-handle in November and an 8-handle in December.
When "That Day" really comes, everything will be over in a night.
And it will be too late to cry. You'll be trapped on the greatest gap of all time.
Huge Buy Opportunity For $AIMBOT Is Approaching$AIMBOT has been all the rage over the past two weeks, and rightfully so. The rev share for this project has been impressive for just being a month old. Aimbot's price increased by 7x in a matter of 11 days. Since then, we have seen the price come back down to earth a bit. We have seen a perfect bounce off of the .618 Fib, but I think we are going lower. The sentiment in the market right now is that September is always a bad month for Crypto. With that said, I think most are a bit hesitant to jump into trades with large positions. When looking at the volume profile, the majority of buys come from the $5 range. I will be looking to accumulate anywhere between $5-$8. I doubt we see the price dip below that.
Bard.Google.com Signal on BTCI have uploaded the picture of BTCUSDT for Bard AI. let’s check its response:
Super interesting
I see a bearish pattern in the BTCUSDT chart. The price has been in a downtrend since May 2023, and it has recently broken below the support level of 26,000. The MACD indicator is also bearish, with the MACD line crossing below the signal line.
The target price for the bears is the next support level at 25,000. However, if the price breaks below 25,000, it could fall to 24,000 or even lower.
Of course, this is just a technical analysis, and the actual price movement of BTCUSDT could go either way. It is important to do your own research before making any investment decisions.
Here are some other factors to consider when making your decision:
The overall market sentiment is bearish. Many investors are worried about the global economy and the potential for a recession. This could weigh on the price of BTCUSDT.
The regulatory environment for cryptocurrencies is becoming more hostile. Some countries are banning cryptocurrencies altogether, while others are imposing stricter regulations. This could make it more difficult for investors to buy and sell BTCUSDT.
The supply of BTC is limited. There are only 21 million BTC that will ever be created. This could make BTCUSDT a more attractive investment in the long term.
Ultimately, the decision of whether to buy or sell BTCUSDT is up to you. Do your own research and make an informed decision.
Have fun with Bard.Google.comI uploaded the picture of Price from MT4 in Bard.Google.com and the following is the answer :
I see a bullish pattern in the gold exchange rate chart you sent me. The price has been making higher highs and higher lows since June 19th. The MACD indicator is also bullish, with the MACD line crossing above the signal line. This indicates that the momentum is in the uptrend.
The possibility of the price going up is higher than down. However, it is important to remember that technical analysis is not always accurate and the price of gold could go down in the short term. It is always best to do your own research and consult with a financial advisor before making any investment decisions.
The second response after I asked for Take profit and stop loss:
Based on the H4 chart of the gold exchange rate you sent me, the price has been making higher highs and higher lows since June 19th. This is a bullish pattern and indicates that the price is likely to continue to move up in the short term.
The price is currently trading around $1985.90. I think it could move up to $2000 in the next few days or weeks. However, it is important to remember that technical analysis is not always accurate and the price of gold could go down in the short term. It is always best to do your own research and consult with a financial advisor before making any investment decisions.
Here are some other factors that could affect the price of gold in the near future:
The global economic outlook: If the global economy is doing well, investors may be less likely to buy gold as a safe haven asset.
The value of the US dollar: A weaker US dollar makes gold more affordable for buyers in other currencies.
Inflation: Gold is often seen as a hedge against inflation, so if inflation is rising, the price of gold may also rise.
Geopolitical events: Gold can be seen as a safe haven asset during times of political or economic uncertainty.
Ultimately, the best way to determine how much the price of gold could move up is to analyze the market and make your own predictions. However, the factors I mentioned above can give you a general idea of the direction of the market.
A Signal From Google BardI uploaded the picture of trading from the chart in H4 for Bard.google.com
It provided the following signal:
I see the updated image. The price is still consolidating in the same area, but it is now more likely that a double top is forming. The MACD is also giving a bearish divergence, which is another sign that the trend may be reversing.
The neckline of the double top is now around $0.88. If the price breaks down below this level, it would be a confirmation of the double top and could signal a reversal to the downside.
The volume of trading has been decreasing, which is a bearish sign. This suggests that there is less buying interest at the current level, which could make it easier for the price to break down.
The moving averages are also starting to turn down, which is another bearish sign. This suggests that the trend is weakening and that a reversal may be imminent.
Overall, the indicators are pointing to a bearish reversal. However, it is important to wait for the price to break down below the neckline of the double top before making a trade.
Here are some other things to consider when analyzing the pattern:
The time frame. The shorter the time frame, the less reliable the pattern is. This is because the price is more likely to be volatile and move in unpredictable ways on shorter time frames.
The volatility. The higher the volatility, the less reliable the pattern is. This is because the price is more likely to break out of the pattern due to random fluctuations.
The past performance. If the pattern has not been successful in the past, it is less likely to be successful in the future.
It is important to remember that technical analysis is not an exact science. There is no guarantee that the price will follow the pattern. However, by considering all of the factors mentioned above, traders can increase their chances of making a successful trade.
AI C3ai Options Ahead of EarningsIf you haven`t bought AI here:
Then analyzing the options chain and the chart patterns of AI C3ai prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $6.55.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Nvidia’s earnings, will the ‘AI hype’ keep driving momentumOn 23 August, we saw another set of incredible results from Nvidia.
The company’s data centre business grew revenues more than three times in six months, hitting $10.323 billion and a figure of more than 171% growth year-over-year. Guidance for the current quarter is now $16 billion, while consensus was in the range of $12.6 billion .
We see Nvidia’s year-to-date return alongside Taiwan Semiconductor Manufacturing Co. (TSMC), SK Hynix, and the Nasdaq 100 Index.
It’s clear that the train of artificial intelligence (AI) adoption is leaving the station, but it’s possible that the journey itself is still in the early stages.
As investors consider Nvidia’s valuation in the autumn of 2023, it is rational to think of two primary factors. One is whether this forecast, that the total market size for AI-accelerating semiconductors in 2027 will be around $150 billion, will prove true (it might be too high…or too low). The other regards how much market share Nvidia itself will be able to maintain.
From what we can see today, the biggest risk to Nvidia’s continued domination of AI computational resources would be the ‘Big 3’ cloud providers 1) designing their own chips and 2) incentivising their customers to use them for their AI workloads. We say this because it is difficult to picture either AMD or Intel, on their own, making a significant dent.
While Nvidia might be perceived as being at the centre of the AI megatrend, exemplifying the hopes and predictions of many with regard to the topic, Nvidia graphics processing units (GPUs) do not operate in isolation. Nvidia doesn’t even fabricate the physical chips.
TSMC fabricates the actual H100 chips that firms are presently racing to buy. TSMC is the most significant fabricator of semiconductors in the world. With all the attention on AI, one would assume that TSMC would be on fire (like Nvidia), but that has not been the case.
Even if AI-related semiconductors are dominating the headlines, they do not yet dominate the full global market for semiconductors.
Consider this question: in 2023, are people or companies racing to buy new smartphones or personal computers?
These are two important areas to monitor when thinking about the totality of the semiconductor market and, while they had been hot in recent years, in the ongoing cyclical trend, 2023 is one of the colder years for this type of demand.
Some might be surprised to learn that AI-chips are only responsible for about 6% of TSMC’s total revenue. This is one of the signals that tells us that we are still early in our AI adoption journey. However, TMSC has also stated that this figure should compound at roughly 50% per year for the next five years and, in 2027 AI-related chips, should be roughly 13% of TSMC’s total revenue .
Another consideration regards the relative sizing of TSMCs customers, as it helps in understanding the revenue picture that much better. With all the Nvidia attention, we might be tempted to assume that it is TSMC’s biggest customer, but that honor actually goes to Apple. In fact, if we add up the estimated share coming from Qualcomm, AMD and Nvidia together, it would be very similar to Apple’s estimated revenue contribution .
TSMC does get some attention by virtue of being in Taiwan amidst the ‘US vs China’ geopolitical tensions, but Nvidia’s H100 also needs high bandwidth memory to function. SK Hynix is the primary provider. Its next generation chips can process the equivalent of 230 high definition, full-length movies in a second. The dynamic random-access memory (DRAM) market that relates to AI is about 16% of revenue today but should grow to roughly 41% of the total by 2025 .
How might performance of the AI-theme evolve from here?
As we approach the latter part of 2023, we know that AI has been a catalyst for some of the world’s largest tech companies to drive US equity markets higher for the better part of the year so far. After a rough 2022, the change in performance from negative to positive was welcome. However, we know that investors overestimate the short term and underestimate the long term, so there is a chance that the AI journey will take longer and we’ll have some ups and downs performance-wise. The funny thing is that we’re already seeing a diverse performance experience across the space.
Conclusion: riding the multi-year trend in AI
AI research and advancement is occurring all the time. In a year like 2022 it was nearly impossible to talk about it due to poor market performance and a rough macro backdrop. Now, in 2023, it’s nearly impossible not to talk about it and people are reaching for exposure in myriad ways. We can think about it like this:
1) Nvidia has moved a lot and may continue to move, but in H2 2023 it is difficult to rationalise chasing Nvidia as a single stock too much further in the near term. We have seen a lot of interest in strategies focused on semiconductors, but there is really only one Nvidia.
2) The Nasdaq 100 Index is extremely top-heavy in terms of putting lots of weight in a narrow set of very large tech companies. Many of these companies have developed or are developing large language models to push AI forward. It’s possible that AI is the catalyst that keeps growth in favour within US equities in the coming decade and leads to these companies continuing in the veritable equity driver’s seat.
3) Software is an interesting area for consideration. As the first part of 2023 was transpiring, many were thinking about a potential recession later in the year. Spending on software was not necessarily in an upward trend. In H2 2023, while the idea of a recession is fading away, the idea of ‘spending on software’ has shifted more towards ‘spending on AI.’ One of the areas we continue to look at is cybersecurity: any time customers are expanding access to new technologies, it needs to be accompanied by increased focus on security.
Source:
1 Moore et al. “NVDA reports another exceptional quarter as AI spending surges.” Morgan Stanley Research. August 24, 2023.
2 Chan et al. “Correction: AI Semi Demand Outshines; keep OW.” Morgan Stanley Research. July 20, 2023.
3 Chan, 2023.
4 Sohn, Jiyoung and Yang Jie. “This Company is Nvidia’s AI Chip Partner—and Its Stock is Soaring.” Wall Street Journal. August 27, 2023.
This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
Nvidia -> 100% New All Time Highs!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nvidia 💪
A couple of months ago Nvidia perfectly retested the lower support trendline of the major monthly rising channel and the next resistance towards the upside is roughly at the $750level.
You can see that Nvidia still looks a little bit overextended on the weekly timeframe but therefore I do expect the bullish momentum to continue for the next couple of weeks.
With the recent break and retest of the $470 daily structure zone, market structure on Nvidia is now back to bullish and it will just be a matter of days until Nvidia creates a new all time high.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
SUBEX, 1DSubex has given good breakout on both long and short time frame.
Good base formation at 30-32 level. stock can move towards 39 and 40.
If it sustains can go further towards 50-60.
Volumes are building and something good can be announced soon.
Company has lot of sectors including AI, Blockchain, security, tele communiction.
One should visit company site to understand more about company dynamics
It is only for education purpose not a recommendation.
South sideIm of the opinion that we are printing the wave 3 of the last leg of the drop of Orai chain.
This will go along with the last btc drop. If Btc is actually making waves 1/2.
Accumulate. Then Send it!
ForexGPT Case Study #2 - CHFJPY LongForexGPT Indicator Explained
The ForexGPT indicator is a specialized tool crafted for traders seeking a refined edge in their trading decisions. Emerging from over 10,000 hours of intensive chart analysis, this indicator identifies a unique pattern in the Forex market that has historically hinted at forthcoming significant price movements.
While the particular nature of the pattern remains proprietary, envision it as a result of distilled insights from exhaustive chart studying, recognizing recurring behaviors, and validating these observations across various time frames and currency pairs.
On spotting this pattern on a chart, the ForexGPT indicator signals a visual alert, such as arrows or markers. Besides, it pinpoints potential entry points, suggesting when traders might contemplate initiating a position. For better risk management, it also highlights potential stop-loss levels.
For traders, the ForexGPT offers:
-A distinctive pattern recognition system built on extensive research.
-Transparent visual cues when the pattern emerges.
-Recommendations on potential entry points and risk containment strategies.
However, it's essential to understand that the ForexGPT is not a magic wand. It's a tool forged from extensive research, but successful trading still necessitates user discernment and adherence to specific rules.
Rules for Using the ForexGPT Indicator:
1. Remain patient until a bullish or bearish signal prints! A bullish signal should ideally appear at the bottom of a range, while a bearish signal at the top.
2. Ensure that the price moves 20 or more pips in the correct direction of the setup WITHOUT violating the suggested red stop-loss line.
3. When the price returns to the recommended entry line, that's your cue to enter the setup. Position your stop-loss at the location of the red line, and earmark your take profit at the most recent opposing high or low in the market.
For those who might not have the luxury of time or expertise to sift through extensive price data, the ForexGPT acts as a valuable ally, presenting insights extracted from profound market scrutiny. But remember, while the tool provides guidance, the trader's skill in interpretation and application is crucial.
The setup on CHFJPY looks pretty good. We have an untapped setup that I spotted already in motion. Let's see what happens :)
NVIDIA - Bears, This Is Your ChanceIn a previous post on NVIDIA following its earnings gap all time high, I posited that a bearish three drives was a real possibility, which would involve the stock actually going down and then driving up a few more times in accordance with the overall market topping:
NVIDIA - A Scenario Few Are Considering. Few. Few. Few.
That never panned out, and instead what we're looking at instead, as you can tell with all the insider selling, is a very likely bump and run reversal.
But distribution patterns take a very long time to manifest, and one of the biggest tells with NVIDIA is despite it going from $366 to $440, it really has never targeted the sell side, not even rebalancing the original gap.
As far as this company goes... well, when you come across something like this whose CEO is a Taiwanese dude prancing around in a leather jacket for every photo op while it's trading like a Chinese Communist Party pump and dump, a number of red flags beyond the 250x P/E it's trading at should emerge.
Companies and their officers who have connections to the CCP are very dangerous, for the geopolitical situation is tense. Much is at stake right now with Mainland China and whether or not Xi Jinping is intelligent enough to get rid of the Party.
If Xi can't get rid of the Party, then the International Rules Based Order will do it for him and will go to install their own people from Taiwan in the Mainland.
Xi always has the option to weaponize the 24-year persecution of Falun Gong, started by the Jiang Zemin faction that's rooted in Shanghai, to take down the Party and defend China from the groups that wish to invade.
Live organ harvesting isn't a sin that can survive public scrutiny, really.
None of this is healthy for the markets, and if you're long on stocks at the top, some of them aren't coming back.
The indexes might come back, but many companies definitely go to zero and will be replaced by a future generation.
When you look at NVIDIA on the monthly, does this look like somewhere that you want to go long?
A monthly "gap" like this will certainly always be filled, and it just happens to be right around the actual level we're looking to target.
The weekly bars are severely ranged compressed, which tells us that a big move is coming
I have a call on that Nasdaq that we're about to get a pretty violent and serious correction, but that it will really be a bear trap:
Nasdaq - The Great Bear Trap
You might feel right now that stocks ONLY GO UPPY. But considering you're in a bear market and these things have been mooning for like an entire quarter right now, you might want to check that notion before that notion wrecks you.
The problem with NVIDIA going and making a new high right now is it's failed to do so twice. Friday's end of the day was a big rejection on everything Nasdaq.
And this is a time when price stopped just 1.8% short of the high.
So what it was really doing was covering the old range, and taking stops over the most subordinate high to the all time high.
Another big tell is the SOXS and SOXL 3x leverage semiconductor ETFs are simultaneously setup on weekly and daily candles to breakout/retrace, and both started to do that in sync on the Friday dump.
NVIDIA is the top component of the index underlying the ETF at roughly 9%.
The most obvious place for it to retrace to to start taking out sell stops is the $395 gap.
But this is only 5% at this point and not very scary.
Meanwhile, all the bulls and all the bears start selling on a break of $366, because Discord and Reddit told them to and some books and guru videos told them to "because confirmation."
Once the gap is finally balanced, I believe that Nasdaq is going to rip to something like 16,000 before we're done, and NVIDIA will actually finish its lifespan with a 5-handle.
So for bears: here's your opportunity. But you better have realistic expectations.
For bulls: here's your opportunity. But you better have patience in buying the dip, and you'll find you "made a lot of money getting out of the market too early."
And for bulls and bears: stay away from ponzi companies and social distance from the CCP and all the Marxist-Leninist and atheist things.
If you don't, you'll face more than the liquidation of your brokerage accounts, to say the very least.
NVDA: Monthly Bearish ABCD Signal Pending Lowering Target to $80Last month I posted a setup that made the argument that NVDA was trading within the Pattern Completion Zone of a Bearish ABCD visible on the Monthly Timeframe and that all I was looking for was a Monthly PPO Confirmation Signal which would likely be triggered by a Bearish Negative Monthly Candle within the Zone; this situation remains the same we are still trading within the zone even after the earnings pop, but we simply haven't had that negative month yet, however it does seem like it will soon give me the signal that I want and it's something to pay attention to, at this point I'd say it'd be ok to put on a midsized bearish entry via 1-3 month NVDA Puts around the $480-$500 strike or NVDS Calls at the $36 strike and upon generating the bearish negative signal candle it will be appropriate to put on the full bearish entry.
In addition, after the recent Price Action and Earnings, if we do get the signals we want here, NVDA will probably drop back down to around $80
The original setup can be found below:
